Global 500 Recruit Online

04/29/2002

Electronic recruiting dominates the human resource efforts of top companies, with 91 percent finding viable candidates through their corporate Web sites.

By Robyn Greenspan

"The utilization of the corporate careers Web site represents the first wave of innovation and, today, 91 percent of Global 500 companies are using the corporate Web site for recruiting purposes. Based on our recent analysis of Fortune 500 companies, the next wave of innovation and competitive advantage has already begun," said Yves Lermusiaux, founder and president of iLogos.

The survey reveals that almost all sectors have had growth in the adoption rate of corporate Web site recruiting. Global 500 corporations using corporate Web sites for recruiting in 2002 represent:

100 percent of companies in the healthcare sector, which is unchanged from 2001.

98 percent of companies in the manufacturing sector, an increase of 1 percent.

95 percent of companies in the high tech sector, up 6 percent.

92 percent of companies in the consumer sector, up 5 percent.

92 percent of companies in the transportation sector, a decrease of 4 percent.

91 percent of companies in the wholesale sector, an increase of 9 percent.

88 percent of companies in the natural resources sector, up 5 percent.

87 percent of companies in the financial sector, also up 5 percent.

84 percent of companies in the utilities sector, an increase of 5 percent.

As electronic recruiting sites match valid candidates to companies, they create an industry that is expected to accumulate $7.5 billion over six years, according to research from The Internet Business Network's (interbiznet) 2001 index. However, the executive recruiting industry, as a whole, posted its worst performance in more than a decade last year, according to Hunt-Scanlon Advisors.

Hunt-Scanlon's research, based on an analysis of search firm financial results, reveals that positive revenue growth was achieved in only a few niche sectors such as healthcare and energy services during 2001, and recently launched search practices revolving around the nation's Homeland Defense Security initiative. The company is currently projecting flat industry revenue growth for both the U.S. and global marketplace in 2002 with expectations of continued growth in the healthcare and energy services sectors.

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Source of Article: Cyberatlas

Date of Article: April 19, 2002